Germans have pointed out a wind shortage, while the French are down on demand.
The European power market was mixed on Thursday. French day-ahead deliveries fell due to a drop in demand before the weekend, while Germany's comparable contract rose because of tighter wind supplies.
LSEG's analysis revealed that Germany would be an importer despite a nearly halving in wind generation on the Friday. However, its thermal capacity is increasing.
LSEG data shows that the French baseload price for Friday delivery is 23.6 euros (27.52 dollars) per megawatt-hour (MWh), down 60.7% on the previous close.
The bid-ask price range for the German equivalent day-ahead contract is 92.3-93.3 Euros/MWh, as opposed to a closing price of 76.1 Euros.
LSEG data shows that German wind production is expected to drop to 17.9 GW per day from 34.7 GW.
The French nuclear capacity remained at 74%.
The demand for electricity in Germany is expected to drop by 1.4 GW per day to reach 57.9GW, while the consumption in France will fall by 1.2 GW daily to 49.7GW.
The average temperature for the week ahead is expected to drop by 1-2 degrees Celsius in comparison with Friday's predicted level.
The German baseload for the year ahead was up 0.6% at 87.7 Euro/MWh.
After closing at 55,5 euros/MWh, the same French position for the year ahead was not traded.
The benchmark contract for the European carbon market in 2025 was up by 0.2% to 78.95 Euros per metric tonne.
Germany's Gross Domestic Product stagnated in third quarter, compared to the previous three-month periods. This highlights the struggles facing Europe's largest economy amid declining exports.
According to a study by the Institute for Energy Economic and Financial Analysis, Europe's gas demand and imports of liquefied gas will fall between 2025 and 2030, respectively.
The trend has slowed the building of infrastructure for German imports, and the transition to fossil fuels continues. Reporting by Vera Eckert and Editing by Krishna Chandra Eluri. $1 = 0.8575 Euros
(source: Reuters)
